Opening bolwer Neil Wagner set up the victory with three wickets in his first spell as the home side capitulated for 86.
Shane Bond took two wickets in consecutive deliveries to cause some nerves in the Otago camp. But Aaron Redmond (48) and Craig Cumming (38) guided the visitors past the total with an undefeated 77-run stand for the third wicket.
Otago will play Northern Districts in the final in Hamilton on Saturday.
Earlier today, left armer Neil Wagner took just three deliveries before removing the first of his three victims in a sensational opening six over spell that set the tone for Canterbury's miserable innings.
Dimitri Mascarenhas kept it tight at the other end with one for 16 from 10 as Canterbury went into survival mode, desperately trying to accumulate some sort of total.
Warren McSkimming replaced Wagner and continued the good work with three for 13 from eight overs, and Nathan McCullum took two for 23 from nine as the home side crumbled.
Corey Anderson top-scored with 23.
Iain Robertson went third ball when he chopped the ball on to his stumps. The skipper, Kruger van Wyk, edged a pull shot through to the keeper and Michael Papps was trapped in front.
Canterbury brought up its 50 in the 25th over but lost five wickets in the process with Shanan Stewart and Johann Myburgh joining Robertson, van Wyk and Papps in the pavilion.
